The situation is changing daily, and Mercer is committed to helping organizations respond to these unprecedented challenges with regular updates, articles, and surveys.
The current COVID-19 crisis reminds us that sending employees on international assignments can be a huge responsibility and a difficult task to manage.
During such a crisis, assignees might need to be evacuated at short notice. Others may try to stay in their assignment locations where little information and practical support are available.
HR teams are on the front line when dealing with some of these dramatic events and have to address a host of questions related to duty of care, relocation, reward, risk management, and compliance.
Managing cost-of-living issues
Thanks to our international network of correspondents, we are monitoring changes in cost-of-living globally and are committed to delivering accurate information throughout the crisis.
The latest editions of our cost-of-living surveys were released on schedule in November.
A dynamic compensation situation
Concerns about the economic impact of the virus have also led to significant exchange rate volatility in recent weeks as well as uncertainty about inflation and availability of goods and services, which will also affect cost-of-living allowance (COLA) figures. Mercer recommends reviewing the home/host combinations of your assignees and your pay delivery approach to assess the potential impact and determine an appropriate way forward on COLA updates.
Addressing quality-of-living issues
Mercer is a leading provider of quality-of-living data to compensate mobile employees fairly for going to a host site with a lower quality of living than that in their home location. During the crisis, we are monitoring the situation in over 400 locations globally.
A shared quality-of-living crisis
In order to slow down or stop the transmission of the coronavirus, countries around the globe have implemented many measures that limit travel, public gathering, availability of certain goods and services, personal mobility, and many other aspects of routine life. Mercer recommends temporary adjustments in quality-of-living premiums in locations heavily affected by the viral outbreak. As the situation evolves, so will our guidance for clients.
Supporting your workforce
Unsure of the best way to support your workforce during the crisis? Download our free guide with ten considerations to bear in mind.
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